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Nov 10, 2012
11/12
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mcconnell making the same thing abundantly clear. we are right back where we started. >> right back where we started. the american people voted on tuesday night to continue the dysfunction that we have had for the last two years. the president seems to act like he has been given a mandate, somehow he has been given this grt victory. lou: important he did not use that wod. >> thankfully, but here is the important thing, and i agree with my colleagues and friends here. there is not a coequal branch of government. the congress has controlled by the house of representatives, republicans, and senate the democrats. mr. obama, even though hethinks as these guys have already said, that he will press for his tax increase on the rich, it's not going to happen. the house was reelected, but a smaller government, keeping government spending in check, and, of course, not raising taxes. if he thinks that house republicans we will roll over, i think he's in for reawakening. lou: one for the country came todaywhen we were stunned by the announcement
mcconnell making the same thing abundantly clear. we are right back where we started. >> right back where we started. the american people voted on tuesday night to continue the dysfunction that we have had for the last two years. the president seems to act like he has been given a mandate, somehow he has been given this grt victory. lou: important he did not use that wod. >> thankfully, but here is the important thing, and i agree with my colleagues and friends here. there is not a...
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Nov 14, 2012
11/12
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. >> congresswoman, as we see with nancy pelosi willing to stay put, mitch mcconnell staying put. harry reid and john boehner staying put. the president back in, what people would expect musical chairs. none will happen. it's the same people in the same positions and yesterday senate majority leader mitch mcconnell took to the floor and said they won't compromise. we had that interview with paul ryan with abc's jonathan karl saying it's not a mandate. they have a divided government so they'll continue with back and forth of head butting and the taxes should not be raised on wealthiest americans. are we headed just for the same old same old once again? >> i don't think so. first of all we are very pleased about nancy pelosi remaining as leader. she's done an extraordinary job in helping to increase our numbers here on the democratic side, in raising the money that was necessary for us to strengthen our hand here in the house and so she has done such a good job that we urged her to please stay on and that experience really does count. let me just say this, there is some posturing go
. >> congresswoman, as we see with nancy pelosi willing to stay put, mitch mcconnell staying put. harry reid and john boehner staying put. the president back in, what people would expect musical chairs. none will happen. it's the same people in the same positions and yesterday senate majority leader mitch mcconnell took to the floor and said they won't compromise. we had that interview with paul ryan with abc's jonathan karl saying it's not a mandate. they have a divided government so...
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Nov 14, 2012
11/12
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mcconnell on their position because they will all be here at the white house on friday to get these talks kick started. melissa: thank you so much. lori: estevez houston with a news conference, president obama will be sitting down with a ceos to talk about solutions to avoid the fiscal cliff. rich edson in washington as well the latest developments. >> good afternoon. wrapping in the 2:00 hour, leaves the east room, here to the west wing where he will meet with about a dozen ceos, half of whom are part of the export counselor, jobs council, or they are very familiar with the white house, in particular this white house. the discussion is of the opening offer on taxes, $1.6 trillion in tax increases, most of that tax increases on rate and deductions for those earning more than $250,000 per year. republicans wanted an overhaul of the entire tax system and create revenue through an overhaul of the tax code mostly by getting rid of deductions. saying no to higher rates. that is the risk the treasury secretary shot down. >> there's a lot of magical thinking about how much money you can ra
mcconnell on their position because they will all be here at the white house on friday to get these talks kick started. melissa: thank you so much. lori: estevez houston with a news conference, president obama will be sitting down with a ceos to talk about solutions to avoid the fiscal cliff. rich edson in washington as well the latest developments. >> good afternoon. wrapping in the 2:00 hour, leaves the east room, here to the west wing where he will meet with about a dozen ceos, half of...
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Nov 15, 2012
11/12
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>> i guess -- you always ask that question, except to mitch mcconnell. >> excuse me, you, mr. hoyer, mr. clyburn, you're all over 70. is it going to prohibit younger leadership from moving forward. >> so you're suggesting that everybody step aside? >> i'm simply saying, does this -- >> i think that what you will see, and let's, for a moment, honor it as a legitimate question. although it's quite offensive. but you don't realize that, i guess. the fact is, the fact is, is that everything that i have done in my almost decade of leadership is to elect younger and newer people to the congress. in my own personal experience, it was very important for me to elect young women. i came to congress when my youngest child, alexandra, was a senior in high school, practically on her way to college. i knew that my male colleagues had come when they were 30. they had a jump on me, because they didn't have to -- i did what i wanted to do. i was blessed to have that opportunity, to sequentially raise my family and then come to congress. but i wanted women to be here in greater numbers at an ea
>> i guess -- you always ask that question, except to mitch mcconnell. >> excuse me, you, mr. hoyer, mr. clyburn, you're all over 70. is it going to prohibit younger leadership from moving forward. >> so you're suggesting that everybody step aside? >> i'm simply saying, does this -- >> i think that what you will see, and let's, for a moment, honor it as a legitimate question. although it's quite offensive. but you don't realize that, i guess. the fact is, the fact...
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Nov 14, 2012
11/12
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now, senate republic leader mitch mcconnell says raises taxes on those businesses would cost 700,000 jobs. the president says we would simply return to the tax rates of the clinton years in which the economy created almost 8 times as many jobs as the administration of george w. bush. president will make his case to the public tomorrow and civic leaders on friday which is when these talks with congressional leaders come in. >> shepard: wendell goler on the north lawn. seven weeks isn't really seven weeks when you are talking about congress. lawmakers just got back to work today. then they are off next week for thanksgiving. then they will take a break for christmas and then time is up. mike emanuel is on capitol hill. one of the lawmakers back at work today congressman paul ryan. the republic vice presidential nominee. >> that's right, shep. paul ryan is expected to have a lot of clout after the elections. obviously a more recognizable name around the country. and he will continue on as the house budget chairman. ryan did not say a whole lot to reporters today. he seemed to be trying
now, senate republic leader mitch mcconnell says raises taxes on those businesses would cost 700,000 jobs. the president says we would simply return to the tax rates of the clinton years in which the economy created almost 8 times as many jobs as the administration of george w. bush. president will make his case to the public tomorrow and civic leaders on friday which is when these talks with congressional leaders come in. >> shepard: wendell goler on the north lawn. seven weeks isn't...
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Nov 16, 2012
11/12
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john boehner, mitch mcconnell saying they want the bush tax cuts for everyone. joe, will they have to bend on that? isn't that really the issue? will they bend on the republican side? >> the republicans are going to have to bend. we have to get this done. we've only got 46 days before the -- before we would fall off this fiscal cliff and to fall off the cliff would mean 3.9% hit for gdp next year. we can't afford that because that would potentially throw us into another recession. we want to avoid that at all costs. the big issue i think for most people would be taxes. most people -- and governor rendell said, well, it's not just a matter of tax increases on the wealthiest americans but it's a host of spending challenges that we face across the board that would impact millions of people and certainly impact us in a huge way. i think republicans have to bend. republicans are going to be looking at of course cuts in spending and cuts in entitlements as well as the possibility of new revenue and i think they're very open to this. i think some republicans will push
john boehner, mitch mcconnell saying they want the bush tax cuts for everyone. joe, will they have to bend on that? isn't that really the issue? will they bend on the republican side? >> the republicans are going to have to bend. we have to get this done. we've only got 46 days before the -- before we would fall off this fiscal cliff and to fall off the cliff would mean 3.9% hit for gdp next year. we can't afford that because that would potentially throw us into another recession. we want...
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Nov 8, 2012
11/12
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john boehner, harry reid, mitch mcconnell. they have not been able to reach a deal. will they be able to move forward now? they were saying some nice things yesterday, both harry reid and john boehner. actions speak louder than words. there are many obstacles what they can do in the main -- the lame duck. we covered both yesterday at a news conference. let me begin with the speaker was talking about the fiscal clef and really what it comes down to is tax cuts and whether you let them expire. [video clip] >> real economic growth eluded us in the first term of this president. without it, we cannot solve the debt problem. for the purposes of forging a bipartisan agreement, we are willing to accept new revenue under the right conditions. what matters is where the increased revenue comes from and what type of reform comes with it. does the increased revenue come from government taking a larger share of what the american people learned through higher tax rates, or does it come as a buy part -- byproduct of growing the economy energized by a simpler, fairer tax code with yo
john boehner, harry reid, mitch mcconnell. they have not been able to reach a deal. will they be able to move forward now? they were saying some nice things yesterday, both harry reid and john boehner. actions speak louder than words. there are many obstacles what they can do in the main -- the lame duck. we covered both yesterday at a news conference. let me begin with the speaker was talking about the fiscal clef and really what it comes down to is tax cuts and whether you let them expire....
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Nov 16, 2012
11/12
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the person who's taking a harder stance is mitch mcconnell. let's listen to what he says from the senate side. >> we don't happen to think the government needs more revenue. the government spends too much as it is. if democrats are willing to reduce spending and strengthen entitlement programs, which we all know are on an unsustainable path that threatens our own long-term viability and the economic well-being of our children and grandchildren, then we'll be there. what we won't do is raise tax rates. >> okay. so read the fine print. raise tax rates. now, there's a difference between raising tax rates and raising revenue, making people pay more by doing things which the republicans have suggested like, you know, capping loopholes or capping deductions, reducing deductions and that type of thing. so there is some type of room. right now, you know, you do have the sides going in a pretty hard position. >> the president's also under some pressure from his left flank. in the debt ceiling negotiations, a lot of people forget he seemed willing to tr
the person who's taking a harder stance is mitch mcconnell. let's listen to what he says from the senate side. >> we don't happen to think the government needs more revenue. the government spends too much as it is. if democrats are willing to reduce spending and strengthen entitlement programs, which we all know are on an unsustainable path that threatens our own long-term viability and the economic well-being of our children and grandchildren, then we'll be there. what we won't do is...
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Nov 14, 2012
11/12
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>> john mccain and myself we will introduce a resolution asking the majority leader, mitch mcconnell to do a select committee. why do you need one? the state department is under the foreign operations committee foreign relations committee oversight. department of defense is under armed service. if you have three different committees interviewing people separately we won't know what one group will significant sailing. so we should form a committee over department of defense, department of the state and the c.i.a. and ask questions and have a professional approach to this. i think congress would be making a huge mistake, let three committees go off by themselves and not coordinate. >> greta: senator harry reid, his view on a select committee is what? >> i don't know. i don't believe you can get to the truth in a professional way. when you talk to the c.i.a., also you want to talk to the defense, why were these people left hanging for eight hours. the c.i.a., why did you not get ready for an attack people were telling you. state department, god knows how many times did you fail the peop
>> john mccain and myself we will introduce a resolution asking the majority leader, mitch mcconnell to do a select committee. why do you need one? the state department is under the foreign operations committee foreign relations committee oversight. department of defense is under armed service. if you have three different committees interviewing people separately we won't know what one group will significant sailing. so we should form a committee over department of defense, department of...
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Nov 11, 2012
11/12
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mcconnell. she has taken an active role in president obama's campaign. >>> justin bieber and selena gomez have split saying that their schedule made it hard to date. >>> teachers say this dance was also about raising the learning curb. beth parker has the story. >> reporter: one minute, it is a sidewalk. the next minute, a stage. ♪ >> my heart was beating real fast. and i felt nervous a little bit. ♪ under the moonlight >> when i'm on the dance floor, the dance floor just kind of speaks to me. ♪ because this is thriller >> reporter: a two-minute flash mob right in front of the national portrait gallery. they are students from d.c.'s savoy elementary school in southeast but, on this day, they're -- >> just like michael johnson. >> a teacher directed from on torch an suv. >> i want to teach them that they can go to wherever i want to go. >> reporter: savoy was traditionally a low performing school but they were celebritiesed by the president' commission on arts to get art supplies, instrumen
mcconnell. she has taken an active role in president obama's campaign. >>> justin bieber and selena gomez have split saying that their schedule made it hard to date. >>> teachers say this dance was also about raising the learning curb. beth parker has the story. >> reporter: one minute, it is a sidewalk. the next minute, a stage. ♪ >> my heart was beating real fast. and i felt nervous a little bit. ♪ under the moonlight >> when i'm on the dance floor, the...
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Nov 15, 2012
11/12
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oh, you've always asked that question except to mitch mcconnell. >> some of her female colleagues booed. >> it's quite offensive, but you don't realize that i guess. >> reporter: pelosi became the first female speaker of the house in 2007, then went on to talk about her work to elect new, and younger people to congress. >> why are we talking about whether she's old enough, or too old to do it? >> reporter: melissa murray says it represents the double standard part of public life. >> this is a long standing kind of narrative, white men get more distinguished, women just get old and decrepit. >> reporter: often talked about for their appearance, rather than their accomplishments. >> these are things that don't get talked about when men are the subjects. we talk about their actions, their policies, not about their pant suits or their hairstyles. >> reporter: back to that controversial question. pelosi's answer? no. ktvu, channel 2 news. >>> tracking clouds and rain, using stormtracker 2 to show you when the first in a series of storms will reach your area. >> in 90 seconds, they claim to b
oh, you've always asked that question except to mitch mcconnell. >> some of her female colleagues booed. >> it's quite offensive, but you don't realize that i guess. >> reporter: pelosi became the first female speaker of the house in 2007, then went on to talk about her work to elect new, and younger people to congress. >> why are we talking about whether she's old enough, or too old to do it? >> reporter: melissa murray says it represents the double standard part...
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. >> you always ask that question, except to mitch mcconnell. >> you, mr. foyer and all of you 70 it is needed for younger leadership. >> so you are suggesting everybody step aside? >> no, the need are for younger leadership. >> i think you will see, and let's for a moment honor it as a legitimate question, although it is quite offensive , but you don't realize it i guess. >> anyway, this went on for another three hours before she finally answered no. i don't even remember what the question was. russert defended the question saying while pelosi laughed off fie cues, many say it hurts the caucus that all three leaders are 70 plus. the longer the top three stay the longer it takes to infuse with mu glued like the gop -- new blood like the gop did. as a 74-year-old woman, what is your take on this? >> i think it was an inappropriate question. i don't think any woman wants to talk about her age, nor do men really for that matter. young or old. especially in a position of power and leadership and the head of a major political party. so i think his question was v
. >> you always ask that question, except to mitch mcconnell. >> you, mr. foyer and all of you 70 it is needed for younger leadership. >> so you are suggesting everybody step aside? >> no, the need are for younger leadership. >> i think you will see, and let's for a moment honor it as a legitimate question, although it is quite offensive , but you don't realize it i guess. >> anyway, this went on for another three hours before she finally answered no. i don't...
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Nov 12, 2012
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the republicans remember when mitch mcconnell said make sure he is a one-term president. the president will be thinking about his legacy wanting to get things done. they lost voters by 56 percent. all that suggests to me is the president says something teaching the fiscal cliff i am willing to have 3-1 spending reductions as well as tax increases and pro growth tax reform package you can get something done there. >> president's second term notoriously difficult and the fact is the president won real election he didn't give as much of an agenda for his second term during the campaign. what do you expect from him that he has to worry ever again about reelection? >> go back to 2010 where they had the great mid term election. republicans think compromise is the answer for their political future. i would say think about what president obama did that ended up helping him win a huge reelection. he decided not to compromise he decided to double down on liberal i am. he marketed it in a new way he found inflexion points with women voters. he did it masterfully with jim macina and
the republicans remember when mitch mcconnell said make sure he is a one-term president. the president will be thinking about his legacy wanting to get things done. they lost voters by 56 percent. all that suggests to me is the president says something teaching the fiscal cliff i am willing to have 3-1 spending reductions as well as tax increases and pro growth tax reform package you can get something done there. >> president's second term notoriously difficult and the fact is the...
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Nov 16, 2012
11/12
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harry reid and minority lead mitch mcconnell. he leaves for asia tomorrow and members of congress will be taking a break on the monday after thanksgiving. it will be a key day to watch. meantime, speaking of the budget government's mortgage insurance agency, they say defaults on loan during the housing bubble has resulted in more than $16 billion annual deficit. lease see how stocks are going on. pretty quiet until we get some indication what is going on in washington. we're lower across the board but just barely. bloomberg down half percent. >> what do you do with thanksgiving leftovers. they say $282 million worth of turkey will end up in the trash. wasting the food but also $105 billion of water and greenhouse gas emissions that go into getting that turkey to your table. an estimated $165 billion worth of uneaten food every year. i'm jane king. >> eric: thank you very much. >> kristen: what happened to those turkey sandwiches. >>> that is why we don't go to anybody else's house because there is no leftovers. here is a look at
harry reid and minority lead mitch mcconnell. he leaves for asia tomorrow and members of congress will be taking a break on the monday after thanksgiving. it will be a key day to watch. meantime, speaking of the budget government's mortgage insurance agency, they say defaults on loan during the housing bubble has resulted in more than $16 billion annual deficit. lease see how stocks are going on. pretty quiet until we get some indication what is going on in washington. we're lower across the...
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Nov 12, 2012
11/12
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what about nancy pelosi, harry reid, mitch mcconnell? in 2011 it was basically boehner and obama, this time there might be a few more lawmakers who want in on this deal. jenna: the president's going to be sitting down with leaders later on this week. let's talk about style versus substance, something we talked about a lot with the election. i was reading comments from the ceo of at&t today, also the senior economist from bank of america who say, listen, if they'd reach an agreement, great. but if between now and then and the disagreements look really big and bad, that's going to damage this economy because it just shatters any consumer confidence going into the holiday season. >> yes. jenna: so, ultimately, they could find a solution, but damage will already be done. what dueck about that, bob? what do you think about the style to all this as well? >> that's why -- and i agree with that, they're going to need a deal by mid december because it's going to shatter consumer confidence, and the stock market's going to play a big role here. we
what about nancy pelosi, harry reid, mitch mcconnell? in 2011 it was basically boehner and obama, this time there might be a few more lawmakers who want in on this deal. jenna: the president's going to be sitting down with leaders later on this week. let's talk about style versus substance, something we talked about a lot with the election. i was reading comments from the ceo of at&t today, also the senior economist from bank of america who say, listen, if they'd reach an agreement, great....
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Nov 16, 2012
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mcconnell all will begin talks at the white house. cnn's jill dougherty is following those developments for us this morning. she's in our washington, d.c. bureau. good morning, jill. >> hello, soledad. well, this is it. both sides are going to be there. they're looking at the tone. they're looking at the president, what kind of tone will he set? you have to say that they're coming in both sides with their essential positions intact. all, both sides are saying that there is some room for a compromise. so, the essential thing is how do you compromise? if you look at the positions, let's say, of the republicans, and it's most strongly, as i say, relayed by senator mitch mcconnell, he does not, and they do not, want any tax increases. so let's listen to him first. >> and let's be clear, an opening bid of $1.6 trillion of new taxes just isn't serious. it's more than simpson-bowles or any other bipartisan commission has called for. it's been unanimously rejected in the house and senate, it's twice as much as the white house seemed ready to
mcconnell all will begin talks at the white house. cnn's jill dougherty is following those developments for us this morning. she's in our washington, d.c. bureau. good morning, jill. >> hello, soledad. well, this is it. both sides are going to be there. they're looking at the tone. they're looking at the president, what kind of tone will he set? you have to say that they're coming in both sides with their essential positions intact. all, both sides are saying that there is some room for a...
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Nov 15, 2012
11/12
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>> you always ask that question except to mitch mcconnell. >> oh, mitch mcconnell, the senate minority leader is 70 years old. nancy pelosi is 72. in the world of politics, age is kind of a skewed concept. average age of members of the house is 56. and of senators it's 62. i mean, paul ryan is thought of as a young gun. he's 42. that's eight years shy of being a card-carrying member of the aarp. ronald reagan was 69 when he first ran for president. many worried he was too old for the job until his famous quip during a debate. >> i will not make age an issue of this campaign. i am not going to exploit, for political purposes, my opponent's youth and inexperience. >> yes, reagan used age to his advantage. but seriously, how old is too old? remember senator strom thurman who commuted from walter reed to the capitol at the age of 100? his aides had to vote for him. of course, this argument isn't limited to the world of politics. ageism rages in the role world, too. how often have you heard those under 30 grumbling about those old guys sucking up all the jobs? so the talk back question of t
>> you always ask that question except to mitch mcconnell. >> oh, mitch mcconnell, the senate minority leader is 70 years old. nancy pelosi is 72. in the world of politics, age is kind of a skewed concept. average age of members of the house is 56. and of senators it's 62. i mean, paul ryan is thought of as a young gun. he's 42. that's eight years shy of being a card-carrying member of the aarp. ronald reagan was 69 when he first ran for president. many worried he was too old for...
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Nov 12, 2012
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the republicans, remember, mitch mcconnell said the top priority is make sure he is a one-term president. that's off the table. president will think of his legacy, want to get things done not just stake out positions. republicans need to worry about their brand and they lost moderate voters by 56%. all that suggests to me is the president says starting on the fiscal cliff, i'm willing to have two to three to one spending reductions versus the tax increases and a pro-growth tax reform package. you can get something done there. >> chris: laura, president's second terms are notoriously difficult. the fact is that although the president won re-election he didn't give as much of an agenda for the second term during the campaign. what do you expect from him now that he no longer has to worry again about re-election? >> it's instructive to go to 2010 when the republicans had a great mid-term election. for republicans thinking that compromise is the answer for their political future, i would say think about what president obama did that actually ended up helping him win huge re-election victory.
the republicans, remember, mitch mcconnell said the top priority is make sure he is a one-term president. that's off the table. president will think of his legacy, want to get things done not just stake out positions. republicans need to worry about their brand and they lost moderate voters by 56%. all that suggests to me is the president says starting on the fiscal cliff, i'm willing to have two to three to one spending reductions versus the tax increases and a pro-growth tax reform package....
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Nov 13, 2012
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mitch mcconnell says higher taxes won't solve that problem. >> this is partisan politics. this is not an option. raising tax rates would destroy 700,000 jobs >> reporter: on this day, the president met with labor and progressive leaders since the day after his re-election that he opposed cuts to medicare and social security benefits. >> the president is committed to making sure that the middle class and the workers are paying the tax for parties we didn't get to. >> reigning in cost of medicare and medicaid is essential to controlling the deficit. mr. obama offered $34 billion a year in savings. republicans don't think it's enough. and they're demanding to be part of the solution. >> the venters also -- the voters also have republican controlled house and closely divided senate. in a government of three equal branchs, that is hardly irrelevant. >> at the white house, despite the seeming impasse over the bush tax cut, carney insists there is flexibility dealing with the deficit. >> i don't think the president is in a position of boxing ourselves in, or boxing others out. he
mitch mcconnell says higher taxes won't solve that problem. >> this is partisan politics. this is not an option. raising tax rates would destroy 700,000 jobs >> reporter: on this day, the president met with labor and progressive leaders since the day after his re-election that he opposed cuts to medicare and social security benefits. >> the president is committed to making sure that the middle class and the workers are paying the tax for parties we didn't get to. >>...
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Nov 13, 2012
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CNN
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wednesday, the business community and friday, there's a meeting with harry reid, mitch mcconnell, house speaker john boehner and minority leader nancy pelosi. so, will we get a deal? one man getting a lot of attention is erskine bowles. who along with alan simpson created the simpson-bowles plan on deficit reduction. i have to start by asking you, did you ever think your name would be part of pop culture? you are the bowles in simpson bowles. >> better be simpson bowles than bowles simpson since everybody knows him by his initials here in washington. >> so, when you talk about things, sacred cows, untouchables, whatever the word might be, in your proposal, the one paul ryan decided not to back, the one barack obama decided not to back, you had an increase in the federal gasoline tax. caps on mortgage interest. charitable donations and retirement contributions. these were all tough choices you made. you also increased the eligibility age for medicare and social security. reduced benefits for wealthier seniors. some of those things i've heard democrats and republicans say they agree on, o
wednesday, the business community and friday, there's a meeting with harry reid, mitch mcconnell, house speaker john boehner and minority leader nancy pelosi. so, will we get a deal? one man getting a lot of attention is erskine bowles. who along with alan simpson created the simpson-bowles plan on deficit reduction. i have to start by asking you, did you ever think your name would be part of pop culture? you are the bowles in simpson bowles. >> better be simpson bowles than bowles...
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Nov 10, 2012
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i think boehner and mitch mcconnell will say no increase in tax rate, 35% is it. i think the president will concede on that point. i think bainer and mcconnell will then accept the idea of cutting culling or capping the deductions each individual and the higher brackets can take, set a top limit on the deductions they can take and that will increase the revenue flow into the federal government. at the same time, the two congressmen, republicans, preserve the rates argument. they won't make all of their folks happy, but i think that's the deal in the works. >> greta: a couple of problems. number 1 is, the fact that -- today at least, i am always stunned when -- with the exception of senator tom coburn, i barely hear anyone talking about the tremendous amount of waste and fraud. we put up the example of the guy in the bathtub with the wine glass, which is a tiny, tiny bit, but it's representative of the mind-set here. no waste and frawpd fraud. they won't raise the tax rates, but when you do put caps on deductions, you are raising the effective rate. i mean, i guess
i think boehner and mitch mcconnell will say no increase in tax rate, 35% is it. i think the president will concede on that point. i think bainer and mcconnell will then accept the idea of cutting culling or capping the deductions each individual and the higher brackets can take, set a top limit on the deductions they can take and that will increase the revenue flow into the federal government. at the same time, the two congressmen, republicans, preserve the rates argument. they won't make all...
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. >> spoke with the minority leader in the senate mitch mcconnell and he said we're willing to fix the tax rate, close the loopholes but i don't think they will bargain on raising the rates. i think they honestly believe and i agree that raising tax rates on capital gains will hurt the economy. but there's another side which is the spending side and there are some republicans who say look if the democrats and president obama won't negotiate well let's just do these automatic across the board spending cuts may be the only way we can get democrats to cut the budget. >> some out there in the financial markets they say look we need to cut four times more than the president is proposing under his $4 trillion plan. i'm curious your take why the president has been silent. i guess this is strategic. boehner gave an interview a press conference. he's giving a press conference tomorrow. earlier cnn was told the president won't say anything but tonight we heard he'll make a statement tomorrow. >> the election was two days ago. today is thursday. he'll make a statement tomorrow. markets are volati
. >> spoke with the minority leader in the senate mitch mcconnell and he said we're willing to fix the tax rate, close the loopholes but i don't think they will bargain on raising the rates. i think they honestly believe and i agree that raising tax rates on capital gains will hurt the economy. but there's another side which is the spending side and there are some republicans who say look if the democrats and president obama won't negotiate well let's just do these automatic across the...